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China Insights

Monthly update on Chinese markets
29 September 2021
    Download the full reportPDF, 2.4MB

    Summary

    • Based on modern economic theory, there are three channels via which a nation could drive its economic growth – expand the labour force, accumulate capital, or boost productivity
    • Like the four Asian Tigers that came before it, the Chinese economy achieved spectacular growth in recent decades mainly by accumulating capital
    • Given its stage of development, there are signs that China will soon exhaust the effectiveness of capital accumulation in driving economic growth. The road to future growth will be built upon improving productivity